Symantec Virus Detected, it's the recession knocking

Symantec joins several others by reporting its quarterly figures and announcing job cuts. They left it open ended and undetermined, but these guys say it could be about 850 employees. Sure will be another nervous 17,500 until the deed is done.

With less incentive to cash out home equity and buy a new computer every year to pay for it over 30 years, there is less trial version upgrade sales paths to convert. Additionally, this would definitely be discretionary spending on the home level. IT spending is also down at a corporate level, so less license multipliers as machines are upgraded on a longer cycle than during the boom times. Additionally, less new units going out to startups since many business models that are ad driven will not make sense for a while and these businesses will not attract venture capital to purchase employees and their computers. After all, why buy ads when no one can spend anything?

Symantec is headquarters in Cupertino, CA.